Country overview

Belgium has one of the highest tax burdens in the EU and is not very friendly towards crypto businesses. Moreover, the regulation itself is quite developed and detailed.

Belgium has a Moderate danger security level according to our rating. Jurisdiction has 51.1 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 1.1 per 100,000 inhabitants a year. Level of firearm related death (3) 1.40 per 100,000 inhabitants a year.

To date, no specific criminal legislation concerning virtual currencies has been adopted in Belgium. Unlike other jurisdictions, the legal use of those currencies is not prohibited (4) in Belgium.

In any case, the wage protection law provides that with regard to an employee, his wages must be paid in money in the currency that is legally used in Belgium. Since Bitcoin and other cryptocurrencies are not legal tender, it is currently not possible (5) to pay the wages of an employee who is employed in Belgium in crypto. What is possible is the situation in which a self-employed person or company is paid in crypto currency for the provision of a service , insofar as the payer agrees to this. 

Belgian crypto platforms had to register(6) with the FSMA until September 1, 2022. To keep their active registration, crypto-service providers had to satisfy seven criteria, including being incorporated as a business with a minimum capital of €50,000.

At present, there is no specific (7) legislation in Belgium aimed at ICOs, so there are no ICO-specific regulatory requirements for companies that are planning a token sale in Belgium.

Regulator is FSMA - Official statement about VASPs from FSMA website (8).

On 23 February 2022, the Belgian Royal Decree of 8 February 2022 (9) on the status and supervision of service providers for the exchange of virtual currency and fiat currency and custodian wallet providers ("Virtual Currency Royal Decree") was published in the Belgian State Gazette. The Virtual Currency Royal Decree introduces registration requirements and operating conditions for virtual currency service providers into Belgian law. The Virtual Currency Royal Decree will enter into force on 1 May 2022, with a grandfathering regime for existing service providers.

As of 1 May 2022, persons established in Belgium whose regular professional activity, even as an ancillary or complementary activity, consists of providing or offering to provide exchange services between virtual currencies and fiat currencies ("crypto exchange services") and offering custodian wallets on Belgian territory will be required to register with the FSMA.

Only one company bit4you currently in the list (10) of registered VASPs.

1)Crime Index by Country 2023 Mid-Year

2)List of countries by intentional homicide rate

3)List of countries by firearm-related death rate

4 and 7)Virtual Currency Regulation: Belgium. Article

5)PAYMENT FOR SERVICES VIA CRYPTO. Article

6)Cryptocurrency regulation in Belgium 2022. Article

8)Cryptocurrencies: new rules enter into force. Article

9)FEDERALE OVERHEIDSDIENST FINANCIEN. Belgian Royal Decree of 8 February 2022. PDF file

10)Virtual Asset Service Provider (VASP). Article

11)Individual - Taxes on personal income. PWC

12)Corporate - Taxes on corporate income. PWC

13)Corporate - Income determination. PWC